Letterheads
Trading Address If you have two addresses that you use for business one where the business activities take place e.g. workshop, office then this should to be at the top so it is clear should they need to visit or write to you. Registered Office Address The registered office address is for limited companies only…
Read More
Declaring Interest on Your Tax return
When you are completing your tax return either online or on paper you have to declare the interest you have earned as further tax may be due depending on your income to which rate of tax you pay, this is because the interest is taxed and basic rate of 20% as the bank etc do…
Read More
Time to Pay Your Tax
Paying Your Tax The tax return deadline approaching there will be some people among us that need to settle our tax liabilities by 31 January 2019. This comes at a time when some people will have cashflow problems as this is just after Christmas when the credit card bill have arrived and most of us…
Read MoreMileage Records
Importance of Keeping Mileage Records Whether you are and employee of a company or a sole trader it is important that you keep accurate records of your business mileage. These records should be kept in case of a PAYE compliance visit by HM Revenue & Customs or an investigation into your tax return of you…
Read More
Having the Right Documents to Back Up the Accounts
As a director of a company you have an obligation to submit your accounts to HM Revenue & Customs whether this is done by the company or your accountant. They will then do internal checks to make sure that your company is paying the right amount of tax at the right time and if not…
Read More
Tax Update
Side-hustle reporting threshold increased The Government has announced plans to increase the threshold above which income from self-employment must be reported via self assessment. Currently, if you earn over £1,000 from self-employment, or a so-called ‘side hustle’ such as babysitting or dog walking, you need to report this income to HMRC by filing a self…
Read More
Cloud Accounting and Bookkeeping
Overview There is now the opportunity to have you cloud accounting software which means you no longer need to have this installed on your desktop you can access this via an internet connection from anywhere. This will avoid the upgrades like with Sage as you will always have the latest version of the software. Moving…
Read More
Bookeeping Software
Every business has the responsibility of keeping accurate accounting records to judge the performance and profitability of their business. The first of this is called bookkeeping so the prime records, sales invoices and purchase invoices will be entered in the software. You will then be able to allocate payments and receipts to a bank accounts…
Read More
Auto enrollment
Auto Enrolment It is now law that as an employer you have legal obligation to offer a workplace pension to all employees and any new starters in the future although as this has been law for a few years already most existing employees have already been enrolled in the pension. As an employer you also…
Read More